How I Built This with Guy Raz – Episode: Advice Line with Chris Reuter of Spikeball

Release Date: November 21, 2024

Overview

In this engaging episode of How I Built This with Guy Raz, host Guy Raz, accompanied by guest Chris Reuter, founder and CEO of Spikeball, delves into the Advice Line segment. This segment is dedicated to addressing real-time business challenges faced by entrepreneurs. Throughout the episode, Raz and Reuter provide insightful guidance to three distinct callers, each navigating unique hurdles in their respective ventures. The discussions span topics from scaling a parkour gym and marketing niche products to overcoming business setbacks and fostering community engagement.

1. Scaling a Parkour Gym: Freedom in Motion with Jimmy Davidson

Caller Profile:

• Name: Jimmy Davidson
• Location: Riverside, Southern California
• Business: Founder of Freedom in Motion, a chain of parkour gyms teaching kids, teens, and adults.

Challenge: Jimmy seeks advice on how to invest in passionate employees to scale his business from three to potentially a $100 million enterprise. Specifically, he is looking for strategies to nurture talent and effectively recruit skilled individuals across multiple locations.

Discussion Highlights:

• Identifying Passionate Employees:

  • Chris Reuter emphasizes the importance of hiring individuals who are genuinely passionate about parkour and can embody the company’s mission. He suggests, “is it safe to assume a decent amount of your early employees were already into parkour or kind of knew a decent amount about this before you showed up?” ([14:26]).

• Developing Talent from Within:

  • Guy Raz draws parallels with Chick-fil-A’s internal talent development, advising Jimmy to create a system that identifies and nurtures great employees, providing them with clear growth paths and incentives. Raz states, “identify great people, give them a clear path to succeed and to grow, and incentivize them so as they help you grow, they benefit as well” ([17:47]).

• Documentation and Standardization:

  • Chris Reuter recommends documenting successful employee traits and processes to ensure consistency across all locations. “The more you can document what's working, I think the better off you'll be” ([20:17]).

Notable Quote:

"Identify great people, give them a clear path to succeed and to grow, and incentivize them so as they help you grow, they benefit as well." – Guy Raz ([17:47])

2. Marketing Niche Running Products: Pen and Paces with Cindy Chin Smith

Caller Profile:

• Name: Cindy Chin Smith
• Location: Boston, Massachusetts
• Business: Founder of Pen and Paces, known for the Yell My Name Bib kit for marathon runners.

Challenge: Cindy seeks strategies to market her fun and uplifting race day products beyond her initial niche, aiming to expand into broader markets like fashionable running accessories.

Discussion Highlights:

• Building Brand Presence:

  • Chris Reuter advises Cindy to focus on building a strong brand presence, similar to how Spikeball gained organic traction before retailers approached them. “From what I understand, that's not normal. But man, did it work for us” ([35:40]).

• Engaging with the Community:

  • Guy Raz emphasizes the importance of connecting with the running community through local stores and face-to-face interactions. “If one of these store owners locally would be willing to meet with you just to see you and to understand your passion” ([36:17]).

• Expanding Product Lines:

  • Chris Reuter suggests exploring merchandise collaborations and leveraging the fashion aspect of running gear to reach a wider audience. “Is there a fashion designer you could work with that could learn your vibe, your brand, everything?” ([53:58]).

Notable Quote:

“Build the brand and they will come.” – Chris Reuter ([35:44])

3. Overcoming Business Setbacks: Station Surf Shop with Nigel Lewis

Caller Profile:

• Name: Nigel Lewis
• Location: Rockaway Beach, New York
• Business: Founder of Station Surf Shop, offering surfboard rentals, sales, and unique surfboard lockers.

Challenge: Nigel grapples with the aftermath of closing his successful surf shop due to financial strains stemming from partner buyouts. He seeks guidance on overcoming loss, maintaining motivation, and navigating financial recovery to reopen his business independently.

Discussion Highlights:

• Mindset and Resilience:

  • Guy Raz encourages Nigel to view his setbacks as learning opportunities, urging him to “spend time doing a self critique in a very constructive way” and use his experiences to inform his next steps. “Use that seven years… as a gift that you were given this gift to know what not to do” ([46:37]).

• Leveraging Community Support:

  • Chris Reuter highlights the power of community backing and suggests involving loyal customers and supporters as stakeholders or investors. “How can you leverage this group of people that want you to come back?” ([49:04]).

• Financial Strategies:

  • Guy Raz recommends exploring crowdfunding platforms like Kickstarter and seeking private investors within the community. “Is there a Kickstarter or something that you get started, or is it a private conversation with a few of these folks that become shareholders?” ([49:44]).

• Expanding Revenue Streams:

  • Chris Reuter advises Nigel to consider expanding into merchandise and apparel, tapping into the broader fashion appeal of surf culture. “Is there a fashion designer you could work with that could learn your vibe, your brand, everything?” ([53:58]).

Notable Quote:

“Think about what you learned. Really spend time doing a self critique in a very constructive way. Write down the things that you don't want to do again.” – Guy Raz ([46:37])

Conclusion and Key Takeaways

Throughout the episode, both Guy Raz and Chris Reuter provide actionable advice tailored to each caller’s unique business challenges. The overarching themes emphasize the importance of community engagement, internal talent development, brand building, and strategic financial planning. Notably, the discussions underscore the significance of resilience and adaptability in the entrepreneurial journey.

Final Notable Quote:

“Spend less, save more.” – Chris Reuter ([55:35])

For Listeners: If you're navigating similar challenges in your entrepreneurial journey, this episode offers valuable insights and strategies drawn from experienced leaders in the industry. Whether you're scaling a business, marketing niche products, or overcoming setbacks, the advice shared here can help steer your venture toward success.

Listen to the full episode on the Wondery App or your preferred podcast platform.